[extropy-chat] who wants to be a millionaire?

[Eugen Leitl]

On Thu, May 13, 2004 at 09:13:22AM +0200, scerir wrote:

> <After nanotech arrives, you are probably in the Singularity era, 
> when I doubt if oldtime investment theory and schemes 
> will still apply.
> BillK>

This appears rather likely.
 
> It seems, to me, we'll see (ir)rational exuberances, 
> and (ir)rational depressions, of the kind here below 
> http://www.econ.yale.edu/~shiller/data/ie_data.htm ,and
> probably much worse, well before the nanotech era.

Technology can shield. Our last and greatest achilles' heel is dependance on
fossil energy sources. Cheap polymer photovoltaics, electronics and solid-state 
heat pumps can reduce living costs dramatically, bringing high standards of
living to currently underprivileged, and decouple more people from economic
fluctuations.
 
> <But if *everyone* is a millionaire, or a multi-millionaire, 
> what are a few million worth?
> Damien B.>
> 
> If you read the chart above you'll realize that - before
> the nanotech or the attotech era - millionaire is who
> is really able to avoid those (ir)rationals. They are not
> many.

I doubt many of those who read this are malnourished, don't have access to
potable water or medical care.

http://www.managedcaremag.com/archives/9705/9705.hammurabi.shtml

"To understand the fees, consider comparative economics: A free craftsman
earned 5 to 8 grains of silver per day, taking about one year to earn 10 to
14 shekels (one shekel equaled 180 grains of silver). A wooden door cost one
to two shekels; earthenware jars were sold for from one-fourth to two-thirds
of a shekel; a wooden tray for carrying on the head went for one-half shekel;
and a middle class dwelling rented for about five shekels a year."

-- 
Eugen* Leitl <a href="http://leitl.org">leitl</a>
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